© Dukascopy Bank SA
- RBS (based on Reuters)
Pair's Outlook
On Tuesday the Cable remained within a tight range, namely between the monthly and the weekly PPs. With the victory of Donald Trump in the US election, the Greenback weakened slightly, allowing the Sterling to reach the 1.2550 level earlier today. However, the pair was unable to climb higher and retreated almost immediately, with the Pound sliding back below 1.25. Technical studies remain in favour of a positive outcome today, but it is uncertain whether the Sterling will able to maintain trade in the green zone today. The monthly PP is providing strong support, which could help the pair retain its position above 1.24.
Traders' Sentiment
There are 63% of traders with a positive outlook towards the British currency today (previously 62%). Concerning the pending orders, 41% of them are to sell the Pound, compared to 39% on Tuesday.
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